Handelsbanken Fonder AB Purchases 3,000 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Handelsbanken Fonder AB grew its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 15.5% during the 3rd quarter, Holdings Channel reports. The firm owned 22,300 shares of the company’s stock after purchasing an additional 3,000 shares during the period. Handelsbanken Fonder AB’s holdings in Arcus Biosciences were worth $341,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Arcus Biosciences by 51.6% in the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock valued at $46,000 after buying an additional 826 shares during the period. Headlands Technologies LLC bought a new stake in shares of Arcus Biosciences during the 1st quarter valued at $59,000. Innealta Capital LLC acquired a new position in shares of Arcus Biosciences in the 2nd quarter valued at $66,000. Point72 DIFC Ltd bought a new position in shares of Arcus Biosciences in the 2nd quarter worth $83,000. Finally, ProShare Advisors LLC grew its stake in shares of Arcus Biosciences by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after purchasing an additional 746 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI raised Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Truist Financial cut their price target on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $34.88.

Arcus Biosciences Stock Down 1.8 %

Arcus Biosciences stock opened at $18.04 on Tuesday. Arcus Biosciences, Inc. has a twelve month low of $12.95 and a twelve month high of $20.31. The company has a 50 day moving average of $16.44 and a 200-day moving average of $16.04. The stock has a market capitalization of $1.64 billion, a PE ratio of -5.80 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The firm had revenue of $39.00 million during the quarter, compared to analysts’ expectations of $26.24 million. During the same quarter in the prior year, the company earned ($1.04) EPS. The company’s revenue was up 34.5% on a year-over-year basis. Equities analysts anticipate that Arcus Biosciences, Inc. will post -3.03 EPS for the current fiscal year.

Arcus Biosciences Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.